Navin Fluorine International Limited

Result Update Presentation

Q1 FY17

Safe Harbor
This presentation and the accompanying slides (the Presentation), which have been prepared by Navin Fluorine
International Limited (the Company), have been prepared solely for information purposes and do not constitute
any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on
in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made
except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but
the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth,
accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all
inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or
any omission from, this Presentation is expressly excluded.
Certain matters discussed in this Presentation may contain statements regarding the Companys market opportunity and
business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not
guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult
to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the
economies of various international markets, the performance of the industry in India and world-wide, competition, the companys
ability to successfully implement its strategy, the Companys future levels of growth and expansion, technological
implementation, changes and advancements, changes in revenue, income or cash flows, the Companys market preferences and its
exposure to market risks, as well as other risks. The Companys actual results, levels of activity, performance or achievements
could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no
obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and
projections made by third parties included in this Presentation are not adopted by the Company and the Company is not
responsible for such third party statements and projections.

Journey Up the Value Chain Gains Momentum...

...Driven by Business, Product & Geography Mix

Note: Q1 FY17 Results compared with Q1FY16

Standalone Profitability Statement

Rs. Crs.

Q1 FY17

Q1 FY16

Change %

Revenue

164

150

9%

Raw Material

65

71

Employee Expenses

18

16

Other Expenses

41

38

Operating EBITDA

40

26

55%

24.2%

17.0%

714bps

Interest Expenses

Depreciation

Operating PBT

34

21

64%

20.5%

13.7%

681bps

Other Income

PBT

39

25

Tax

11

Profit After Tax

29

18

58%

17.4%

12.1%

534bps

Operating EBITDA Margin

Operating PBT Margin

Profit After Tax Margin

Revenue Mix : Business Unit Wise

7%

12%

37%

* Standalone Results

32%

16%

16%

40%

40%

Q1 FY16

Q1 FY17

CRAMS

Inorganic Fluorides

Specialty Chemicals

Refrigerant Gases

Business Units Performance

176

194

215

154
66

FY12

FY13

FY14

FY15

FY16

Q1 FY17

Domestic
79%
* Standalone Results

99

113

105

94

26

FY13

FY14

FY15

FY16

Q1 FY17

Exports
5%

Exports
21%

98

FY12

Geographic Mix Q1 FY17

195

Inorganic Fluorides

Revenue (Rs.Crs)

Refrigerants

Domestic
95%

Business Units Performance

215
159

178

CRAMS**

239

156
53

FY12

FY13

FY14

FY15

Revenue (Rs.Crs)

Specialty Chemicals

FY16 Q1 FY17

87

14
FY13

26

31

FY14

FY15

19

FY16

Q1 FY17

Exports
38%

Domestic
62%

** CRAMS business generating revenue since FY13

* Standalone Results

Geographic Mix Q1 FY17

Domestic
0%

Exports
100%

Key Updates

01

Manufacturing Facility at Dewas

Indias only plant with cGMP compliant capabilities for high pressure
fluorination
Numerous Customer Audits completed successfully
Plant commercially operational

Greenfield Facility at Dahej, Gujarat

JV with Piramal Enterprises Ltd. to develop, manufacture and sell
speciality Fluorochemicals for healthcare segment
Product validation in process

Entered into agreement with Honeywell

03

For a small scale manufacturing project on HFO-1234 yf

Next Generation Refrigerant Gas with GWP less than 1
For use in vehicle air conditioning systems.

02

Business Overview

Overview
Largest Integrated Specialty
Fluorochemical Company in India

Built Indias only plant with high

pressure fluorination capabilities with
cGMP compliance for CRAMS Business

Manufacturing plants
strategically located
closer to major ports

Over 45 years of expertise

in Handling Fluorine

Strong Clientele base in India

& abroad, including Global
Innovators

Pioneers of Refrigerant
Gas manufacturing in India
RESPONSIBLE CARE
certification

10

Business Units (BU) - Standalone

FY11 Revenue %

FY16 Revenue %

Commenced CRAMS business in 2011

CRAMS 0%

Specialty
Chemicals 27%

CRAMS 14%

Specialty
Chemicals 38%

Refrigerants (incl.
CER) 55%

Refrigerants
34%

Inorganic
Fluorides 18%

Inorganic
Fluorides 14%

Commenced Specialty Chemicals in

2000
Inorganic Fluorides &
Refrigerants are
traditional business
since 1967

Focus on Rising up Fluorine Value-Pyramid

11

Clients across the Globe

12

Key Strengths
Fluorination Capabilities
Pioneered Manufacturing of
Refrigerant Gases in India
Over 45 years of experience in
handling Fluorine
Extensive expertise focusing on
specialty fluorine chemistry

Manufacturing
Chemical Complex at Surat spread
over 135 acres, houses Refrigerant,
Inorganic Fluorides & Specialty
Chemicals Plants
cGMP Compliant Pilot plant for CRAMS
in Dewas

cGMP Compliant Manufacturing plant

for CRAMS fully operational

13

In-house R&D
State-of-the-art R&D centre Navin
Research Innovation Centre at Surat
DSIR approved R&D Centre
Supports in product addition &
process efficiency in all business units
R&D strength augmented by
Manchester Organics Acquisition

Raw Material Sourcing

Backward integration for Raw material
through 25% JV partner in the only
Fluorspar beneficiation company in
India
Supply from JV to commence in FY18
Diversified sourcing of Fluorspar away
from China

Growth driven by Every Business Unit

CRAMS
Business progression from Contract Research to Contract
Manufacturing
cGMP compliant manufacturing facility operational

Specialty Chemicals
Introduction of new high value added molecules in portfolio
Entry into newer geographies

Inorganic Fluorides
Introduction of new molecules in portfolio
Entry into newer geographies

Refrigerants
Strong demand for air conditioning and refrigeration equipment
Increasing usage as feedstock in pharma

14

Strategy Begins to Yield Results

Operating PBT Margin (%)

Operating EBITDA Margin (%)

14%

18%
15%

FY13

13%

FY14

10%

12%

FY15

FY16

Return on Net Worth (%)

FY13

8%

8%

FY14

FY15

Return on Capital Employed (%)

18%

14%
9%

FY13

15 * Standalone Results

10%

FY14

12%

9%

FY15

FY16

FY16

FY13

11%

11%

FY14

FY15

FY16

Consolidated Profitability Statement

Rs. Crs.

FY16

FY15

Change %

Revenue

680

592

15%

Raw Material

311

289

Employee Expenses

81

74

Other Expenses

171

156

EBITDA

117

72

63%

17.3%

12.2%

506 bps

Interest Expenses

Depreciation

22

20

Operating PBT

91

49

87%

13.4%

8.2%

516 bps

Other Income

24

30

PBT

116

78

Tax

32

20

Profit After Tax

84

58

Minority Interest

(4)

Extraordinary Items
PAT after Minority Interest and Extraordinary
Items

84

55

EBITDA Margin

Operating PBT Margin

16

53%

Consolidated Balance Sheet

Rs. Crs.
Shareholders Fund
Share capital
Reserves & Surplus
Minority Interest
Non-current liabilities
Long term borrowings
Deferred Tax Liabilities (net)
Other non-current liabilities
Current liabilities
Short term borrowings
Trade Payables
Other current liabilities
Total Liabilities
Non-current assets
Fixed assets
Goodwill on Consolidation
Non-current Investments
Long-term loans and advances
Current assets
Current Investments
Inventories
Trade receivables
Cash and bank balances
Short Term Loans & Advances
Other current assets
Total Assets

17

Mar16

Mar15

10
636
-

10
578
13

48
37
29

27
32
28

34
96
66
954

34
89
41
852

307
88
117
96

293
41
116
91

53
76
150
29
34
4
954

55
76
120
28
28
4
852

Consistent Dividend Performance

Dividend as % of Face Value

Interim

140%

150%

Declared Highest ever Total

Dividend @ 210%

Final

150%

Robust Dividend Payout

150%

160%

FY10

FY11

FY12*

FY13

FY14

FY15

FY16

22%

24%

37%

40%

36%

38%

29%

Total Dividend of Rs.21 per share in FY16

* FY12- Exclusive of Special Dividend of Rs.60 per share

Continuous Dividend
since last 10 years

Special Dividend of Rs.

60 per share in FY 12

Declared Final Dividend

of Rs.11 per share in
FY16

Total Dividend of Rs.21

per share in FY16

160%

Pay out Ratio = (Dividend + DDT) / PAT

18

Contact

For further information, please contact:

19

Company :

Investor Relations Advisors :

Navin Fluorine International Ltd.

CIN : L24110MH1998PLC115499

Strategic Growth Advisors Pvt. Ltd.

CIN : U74140MH2010PTC204285

Mr. Sitendu Nagchaudhuri

Chief Financial Officer
sitendu.nagchaudhuri@nfil.in

Ms. Sanjita Ghosh / Mr. Shogun Jain

07738359389 / 07738377756
gsanjita@sgapl.net / jshogun@sgapl.net

www.nfil.in

www.sgapl.net